Cookie policy: This site uses cookies (small files stored on your computer) to simplify and improve your experience of this website. Cookies are small text files stored on the device you are using to access this website. For more information on how we use and manage cookies please take a look at our privacy and cookie policies. Some parts of the site may not work properly if you choose not to accept cookies.

sections
Home > SevOne > Better Inventory Management: Big Challenges, Big Data, Emerging Solutions
 

Better Inventory Management: Big Challenges, Big Data, Emerging Solutions

White Paper Published By: SevOne
SevOne
Published:  Jul 07, 2015
Type:  White Paper
Length:  10 pages

Because inventory is usually one of the biggest numbers on their balance sheet, effective inventory control and management is a vital function to help insure the continued success of distribution and manufacturing and companies. The effectiveness of inventory control is typically measured by how successful a company is at reducing inventory investment, meeting its customer service goals, and achieving maximum throughput and cost containment.

On paper, the concept of inventory management seems easy enough. In simple terms, it can be summed up as the process of determining what items to stock, how many of each item should be kept on hand, and when orders should be placed for more.

Unfortunately, inventory management is much more complex in practice. The factors that complicate the process fall into two broad categories: 1) conflicting objectives across various segments of each company, and 2) the tentative nature of both supply and demand.



Tags : 
erp, inventory management, big data, manufacturing, distribution